TIDMDGI
RNS Number : 2582W
DG Innovate PLC
11 December 2023
The information contained within this announcement is deemed to
constitute inside information as stipulated under the retained EU
law version of the Market Abuse Regulation (EU) No. 596/2014 (the
"UK MAR") which is part of UK law by virtue of the European Union
(Withdrawal) Act 2018. The information is disclosed in accordance
with the Company's obligations under Article 17 of the UK MAR. Upon
the publication of this announcement, this inside information is
now considered to be in the public domain.
11 December 2023
DG Innovate plc
("DG Innovate", "DGI", the "Company" or the "Group")
Board Restructuring and Appointment of Directors
GBP2.4 million Convertible Note Fundraise
Director Dealings and Issue/Lapsing of Options
DG Innovate (LSE: DGI), the advanced research and development
company pioneering sustainable and environmentally considerate
improvements to electric mobility and energy storage, is pleased to
announce, inter alia, a board restructuring, including the
appointment of three new executive directors with significant
experience in the electric vehicle sector, all of whom have held
senior roles with Tesla, as detailed below, and a GBP2.4 million
fundraising via the issue of convertible notes.
The new executive management team envisage a dual strategy: to
complete the development and commercialisation of the Company's
existing technology and to build a larger business through
significant complimentary acquisitions within the wider electric
mobility and energy storage spaces.
Highlights
-- Board restructuring including the appointment of a new
executive management team comprising Peter Bardenfleth-Hansen as
Chief Executive Officer and Christian Eidem and Jochen Rudat as
Executive Directors. All three have significant experience in the
electric vehicle and mobility sector, including senior roles with
Tesla.
-- Convertible note fundraise of GBP2.4 million to progress the
new executive management team's plans including the development and
commercialisation of the Company's existing technology.
-- Christian Eidem has acquired a 29.3% stake in the Company
through the purchase of shares from existing shareholders in the
Company.
-- Options under a new Executive Share Option Scheme have been
issued to the incoming directors and the Company's Chief Technology
Officer, Martin Boughtwood, with certain existing options
lapsing.
-- Peter Tierney, the Company's previous Chief Executive Officer
has moved to a Non-Executive Director role and Dr Pat Symonds has
resigned from his position as a Non-Executive Director.
Commenting, Nick Tulloch, Chairman of DG Innovate, said: "We are
delighted to welcome Christian Eidem, Peter Bardenfleth-Hansen and
Jochen Rudat to DG Innovate, together with Christian taking a
significant stake in the Company. The new executive management
team, with their world-class track record in the electric vehicle
and mobility sector, recognise the significant commercial potential
in DG Innovate's technology and the wider opportunity to use DG
Innovate as a platform to build a larger company focused on the
sector. The funds raised will help progress these plans and I look
forward to an extremely bright future for DG Innovate.
"I would also like to express my gratitude to Peter Tierney for
his contribution as CEO and I am delighted that he will continue
his involvement in the Company. My thanks go also to Pat Symonds
for his wise counsel to the Company and I wish him well in his
future endeavours. Finally, on behalf of the Board, I would like to
express our gratitude to the Deregallera Trust and the other
shareholders who have, for the benefit of the Company and wider
shareholder base, sacrificed a significant proportion of their
holdings to enable the funding and new management team to be put in
place."
Commenting, Peter Bardenfleth-Hansen, incoming CEO of DG
Innovate, said: "The technology the DGI team has developed is
exceptional. Jochen, Christian and I have spent a collective 90
years in this industry, and in the last few years have looked at
hundreds of different technologies to invest in and commit to
across the globe - DGI's technology was the standout. We look
forward to working with the DGI team, and alongside investment from
leading investors we have the opportunity to leverage DGI's
technology and build a scaled business focused on green
technology."
Board Restructuring
The Company is pleased to announce the appointment of Peter
Bardenfleth-Hansen as the Company's new Chief Executive Officer,
together with Christian Eidem and Jochen Rudat as Executive
Directors. Mr Bardenfleth-Hansen and Mr Eidem will devote the
majority of their working time to the Company.
Peter Bardenfleth-Hansen is a seasoned executive in the electric
vehicle and mobility industry. Peter spent almost 10 years at Tesla
(Nasdaq: TSLA), during which he held increasingly senior sales
roles within the organisation. His role in drawing attention to
Tesla at Copenhagen's December 2009 Conference on Climate Change,
led to him being Tesla's first hire in Scandinavia, where he
successfully led the launch of the Roadster. He progressed through
the ranks at Tesla and ultimately became Nordic Director in 2013,
overseeing a team of 160 people, with geographic responsibility for
Scandinavia as well as the Nordic and Baltic regions. In December
2016, Peter became the Director of EMEA business development at
Tesla where he oversaw all business expansion throughout Europe,
the Middle East and Africa. In 2015, he was given a 6-month special
assignment to Japan where he was tasked with restructuring
management. Peter is now advising on mobility and invests in
numerous private mobility companies, including Fenris Motorcycles
and Viggo. He has also been a member of the board of directors of
Volta Trucks and Zaptec since October 2020 and has also been the
chairman of Viggo since May 2019.
Christian Eidem graduated from the Wharton School of Business,
University of Pennsylvania, with a degree in Economics. He is an
investor and entrepreneur who started his career as a venture
capitalist in Oslo, Norway. He has created and managed companies in
sports and healthcare, including International Sports Management.
He also co-founded Orion Systems and Mylna Gruppen, one of
Scandinavia's leading fitness equipment companies. Christian holds
numerous directorship and board member positions around the world,
including as Director of Life Natural, advisor to Tesla Motors and
advisor to Orion Systems. In the past he served as Chairman and
co-founder of International Sports Management. He has worked as an
advisor to Elon Musk and Tesla.
Jochen Rudat has almost 25 years of experience in the mobility
industry. Following his management role at BMW Switzerland, he
joined Tesla in 2009, where he was one of Tesla's first hires in
Europe and was tasked with building Tesla's business in Europe from
the ground up. During his tenure, Jochen was responsible for the
launch of Tesla products in several markets, including Switzerland,
Austria, Italy and France. In his last role at Tesla as Director
Central Europe, he had responsibility for the entire Central
European region, including the key German market. During his time
at Tesla, Jochen also reported directly to Tesla founder, Elon
Musk, and was recognised for his significant achievements by being
awarded the Key Contributor Award, which only a few high performers
received in certain times. Jochen was also given a special
assignment for several months to improve retail operations in
China. In addition to Tesla, Jochen was Chief Sales Officer at the
electric luxury brand Automobili Pininfarina, and has worked in
different roles for Porsche, Citroen, Kia Motors and BMW.
Currently, Jochen consults to several mobility start-ups and is on
the advisory board of Silent Yachts, which manufacture solar
powered e-boats, Micro Mobility Systems AG, which manufacture light
electric vehicles, American Manganese, which is involved in the
recycling of lithium ion batteries, Bonnet Ltd., an EV charging
start-up, and Carify, a fast-growing Swiss car subscription
service. Jochen is the Head of Sales of Piech Automotive and is
also an executive advisor at Vulcan Energie Ressourcen GmbH.
Peter Tierney, the Company's previous Chief Executive Officer,
has moved to a Non-Executive Director role and Dr Pat Symonds has
resigned from his position as a Non-Executive Director to focus on
his other activities, including his position as Formula One's Chief
Technical Officer.
The Board of the Company will now comprise: Nicholas Tulloch
(Non-Executive Chairman), Peter Bardenfleth-Hansen (Chief Executive
Officer), Christian Eidem (Executive Director), Jochen Rudat
(Executive Director), Jack Allardyce (Chief Financial Officer),
Martin Boughtwood (Chief Technical Officer), Peter Tierney
(Non-Executive Director) and Trevor Gabriel (Non-Executive
Director).
Convertible Note Fundraise
The Company has raised gross proceeds of GBP2.4 million through
the issue of unsecured convertible notes ("CLNs") convertible into
the Company's ordinary shares of 0.01 pence ("Ordinary Shares") at
a price of 0.035 pence per share. The CLNs have been placed by
Patronus Partners with new and existing investors in the
Company.
The CLNs have no coupon and are convertible (i) after one year,
subject to the availability of a valid exemption from the
requirement to prepare a prospectus in respect of the Ordinary
Shares arising from the conversion; or (ii) following admission of
the Company's ordinary share capital to the AIM Market of the
London Stock Exchange.
The proceeds raised through the issue of the CLNs will be used
for general corporate purposes, including to progress the testing
and commercialisation of the Company's Pareta(R) prototype
high-performance electric vehicle drive, together with other
projects, including the Scale up Readiness Validation of Parallel
Motor for Automotive Applications' ("SUPAR") project with the UK
Government's Advanced Propulsion Centre as detailed in the
Company's interim results, announced on 28 September 2023.
Director Dealings
In the interest of acquiring a substantial position in the
Company's shares in an expedient manner, Christian Eidem made a
proposal to acquire a proportion of the holding of DG Innovate's
largest shareholder, the Deregallera Trust (the "Trust"). The Trust
was established by the family of Martin Boughtwood, a director,
with the beneficiary being his wife and the trustees being his
adult children. The appointment of the new executive team and
funding arrangements were contingent on an agreement being reached
between the Mr Eidem and the Trust. Mr Eidem reached agreement with
the Trust to facilitate the overall transaction and shield other
shareholders from potentially significant dilution. Christian Eidem
has therefore acquired 2,560,637,110 Ordinary Shares from the
Trust, equating to 25% of the Company's existing issued share
capital.
Mr Eidem has also reached agreement with certain other
shareholders, including two existing directors of the Company, to
acquire an additional 440,000,000 Ordinary Shares at the same price
as the transaction with the Trust. Following these purchases, Mr
Eidem's has a holding in the Company of 3,000,637,110 Ordinary
Shares, equating to approximately 29.3% of the Company's issued
share capital.
Further information on these transactions is contained in the
disclosure tables below.
Following these transactions the Directors' holdings of Ordinary
Shares are as follows:
Name Position Previous Holding Current Holding Percentage
Holding
Christian Eidem Executive Director - 3,000,637,110 29.3%
-------------------- ----------------- ---------------- -----------
Jack Allardyce CFO 6,000,000 - -
-------------------- ----------------- ---------------- -----------
Martin Boughtwood* CTO 3,026,591,664 465,954,554 4.5%
-------------------- ----------------- ---------------- -----------
Non-Executive
Trevor Gabriel** Director 555,561,720 331,561,664 3.2%
-------------------- ----------------- ---------------- -----------
*Held by the Deregallera Trust, whose beneficiary is Martin's
wife, Denise Boughtwood
** Held by Disruptech Limited, owned by Trevor Gabriel
Issue of Options
The Company has granted the following options over Ordinary
Shares ("Granted Options") under the terms of its executive share
option scheme:
Name Position Options exercisable Options exercisable
at 0.03p per share at 0.06p per share
Christian Eidem Executive 2,000,000,000 -
Director
---------- ------------------- --------------------
Peter Bardenfleth- CEO 1,500,000,000 -
Hansen
---------- ------------------- --------------------
Jochen Rudat Executive 1,500,000,000 -
Director
---------- ------------------- --------------------
Martin Boughtwood CTO 1,000,000,000 1,000,000,000*
---------- ------------------- --------------------
* Martin Boughtwood's second tranche of options will be repriced
to 0.03 pence per share subject to the Company entering into
contracts within two years worth not less than GBP2 million for the
sale/licencing of its technologies.
The Granted Options vest on a daily basis during the first year,
are exercisable immediately upon vesting and have no performance
conditions attached other than continued employment by the Company
(or other Group company).
Further details are contained in the disclosure tables
below.
Lapsing of Existing Options
On 12 October 2022 Peter Tierney was granted 690,790,814 options
over Ordinary Shares with an exercise price of 0.1 pence per share.
Mr Tierney has agreed that 425,987,669 of these options will lapse
and he therefore now holds options over 264,803,145 Ordinary Shares
with an exercise price of 0.1 pence per share, representing
approximately 2.6% of the Company's current issued share
capital.
On 12 April 2022 Martin Boughtwood was granted 156,105,002
options over Ordinary Shares with an exercise price of 0.1 pence
per share. Mr Boughtwood has agreed that all of these options will
lapse.
Certain other former directors have also agreed that certain
options held by them, which in aggregate comprise 599,999,999
options over Ordinary Shares with an exercise price of 0.1 pence
per share, will also lapse.
Following the lapsing of these options and the grant of options
detailed above, the Company has a total of 8,245,101,307 options
outstanding representing approximately 80.5% of the Company's
issued share capital.
Director Salary/Fee Waivers
The existing and continuing directors, detailed below, have for
some time deferred the receipt of certain salaries and fees
contractually owed to them in order to preserve the Company's cash
resources. These directors have agreed to waive the amounts owed as
set out below:
Name Unpaid accrued salary / fees
to be waived
Nicholas Tulloch GBP14,166
-----------------------------
Peter Tierney GBP90,208
-----------------------------
Martin Boughtwood GBP90,208
-----------------------------
Jack Allardyce GBP33,750
-----------------------------
Trevor Gabriel GBP14,166
-----------------------------
Issue of Warrants
The Company has agreed to issue 205,714,286 warrants to Patronus
Partners for services provided in connection with the CLN
fundraise. The 205,714,286 warrants give Patronus Partners the
right to acquire such number of new Ordinary Shares at an exercise
price of 0.035 pence and expire on 11 December 2024 ("Broker
Warrants"). If the Broker Warrants were ultimately to be exercised
in full, it would result in the issue of 205,714,286 new Ordinary
Shares raising a further GBP72,000 for the development of the
Company's business.
For further information please contact:
DG Innovate plc C/O IFC
Nick Tulloch (Chairman)
Peter Bardenfleth- Hansen (CEO)
Christian Eidem (Executive Director)
Jack Allardyce (CFO)
IFC Advisory (Financial PR & IR) 020 3934 6630
Tim Metcalfe
Zach Cohen
Grant Thornton UK LLP (Financial Adviser)
Samantha Harrison
Jamie Barklem
Ciara Donnelly 020 7383 5100
Peterhouse (Broker) 020 7469 0930
Rose Greensmith
Duncan Vasey
Lucy Williams
About DG Innovate
DG Innovate is an advanced research and development company
pioneering sustainable and environmentally considerate improvements
to electric mobility and storage, using abundant materials and the
best engineering and scientific practices. DG Innovate is currently
developing its products alongside a number of major manufacturers
across the transportation and energy sectors, research institutions
and the UK Government, and has filed 18 patents worldwide. DG
Innovate's current research and development activities are broadly
split into two areas, focusing on novel electric motor technologies
and energy storage solutions. Its two main products are:
- Enhanced Drive Technology (EDT) - High efficiency,
cost-effective electric motors + power electronics; and
- Enhanced Battery Technology (EBT) - Sodium-ion batteries
offering a sustainable energy storage solution at similar/greater
energy density to incumbent technologies at a lower cost, increased
safety with lower environmental footprint.
Further information may be found at: https://www.dgiplc.com
The information set out below is provided in accordance with the
requirements of Regulation 19(3) of the EU Market Abuse Regulation
No 596/2014:
Details of the person discharging managerial responsibilities/person
1 closely associated
(a) Name Degeralla Trust
-------------------------------- -------------------------------------
Reason for the notification
2
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(a) Position/status Person Closely Associated
with a director, Martin Boughtwood.
-------------------------------- -------------------------------------
(b) Initial notification/Amendment Initial notification
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3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
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(a) Name DG Innovate Plc
-------------------------------- -------------------------------------
(b) LEI 21380058VQBP76M7TN11
-------------------------------- -------------------------------------
Details of the transaction(s): section to be repeated
4 for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
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(a) Description of the financial Ordinary shares of 0.1 pence
instrument, type of instrument each
Identification code ISIN GB00BYQD5059
DGI
-------------------------------- -------------------------------------
(b) Nature of the transaction Sale of Ordinary Shares
-------------------------------- -------------------------------------
(c) Price(s) and volume(s) Price(s) Volume(s)
GBP 0.00006667 2,560,637,110
-------------------------------- -------------------------------------
(d) Aggregated information
- Aggregated volume 2,560,637,110
- Price GBP 0.00006667
-------------------------------- -------------------------------------
(e) Date of the transaction 11 December 2023
-------------------------------- -------------------------------------
(f) Place of the transaction Outside a trading venue
-------------------------------- -------------------------------------
Details of the person discharging managerial responsibilities/person
1 closely associated
(a) Name Trevor Gabriel
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Reason for the notification
2
-----------------------------------------------------------------------
(a) Position/status Non-Executive Director
---------------------------------- -----------------------------------
(b) Initial notification/Amendment Initial notification
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3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
(a) Name DG Innovate Plc
---------------------------------- -----------------------------------
(b) LEI 21380058VQBP76M7TN11
---------------------------------- -----------------------------------
Details of the transaction(s): section to be repeated
4 for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
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(a) Description of the financial Ordinary shares of 0.1 pence
instrument, type of instrument each
Identification code ISIN GB00BYQD5059
DGI
---------------------------------- -----------------------------------
(b) Nature of the transaction Sale of Ordinary Shares
---------------------------------- -----------------------------------
(c) Price(s) and volume(s) Price(s) Volume(s)
GBP 0.00006667 224,000,000
---------------------------------- -----------------------------------
(d) Aggregated information
- Aggregated volume 224,000,000
- Price GBP 0.00006667
---------------------------------- -----------------------------------
(e) Date of the transaction 11 December 2023
---------------------------------- -----------------------------------
(f) Place of the transaction Outside a trading venue
---------------------------------- -----------------------------------
Details of the person discharging managerial responsibilities/person
1 closely associated
(a) Name John ("Jack") Alladyce
------------------------------------ ---------------------------------
Reason for the notification
2
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(a) Position/status Chief Financial Officer
------------------------------------ ---------------------------------
(b) Initial notification/Amendment Initial notification
------------------------------------ ---------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
(a) Name DG Innovate Plc
------------------------------------ ---------------------------------
(b) LEI 21380058VQBP76M7TN11
------------------------------------ ---------------------------------
Details of the transaction(s): section to be repeated
4 for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-----------------------------------------------------------------------
(a) Description of the financial Ordinary shares of 0.1 pence
instrument, type of instrument each
Identification code ISIN GB00BYQD5059
DGI
------------------------------------ ---------------------------------
(b) Nature of the transaction Sale of Ordinary Shares
------------------------------------ ---------------------------------
(c) Price(s) and volume(s) Price(s) Volume(s)
GBP 0.00006667 6,000,000
------------------------------------ ---------------------------------
(d) Aggregated information
- Aggregated volume 6,000,000
- Price GBP 0.00006667
------------------------------------ ---------------------------------
(e) Date of the transaction 11 December 2023
------------------------------------ ---------------------------------
(f) Place of the transaction Outside a trading venue
------------------------------------ ---------------------------------
Details of the person discharging managerial responsibilities/person
1 closely associated
(a) Name Christian Eidem
------------------------------------ ---------------------------------
Reason for the notification
2
-----------------------------------------------------------------------
(a) Position/status Executive Director
------------------------------------ ---------------------------------
(b) Initial notification/Amendment Initial notification
------------------------------------ ---------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
(a) Name DG Innovate Plc
------------------------------------ ---------------------------------
(b) LEI 21380058VQBP76M7TN11
------------------------------------ ---------------------------------
Details of the transaction(s): section to be repeated
4 for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
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(a) Description of the financial Ordinary shares of 0.1 pence
instrument, type of instrument each
Identification code ISIN GB00BYQD5059
DGI
------------------------------------ ---------------------------------
(b) Nature of the transaction Grant of GBP0.0003 options
under the Executive Share
Option Scheme
------------------------------------ ---------------------------------
(c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.0003 2,000,000,000
------------------------------------ ---------------------------------
(d) Aggregated information N/A
- Aggregated volume
- Price
------------------------------------ ---------------------------------
(e) Date of the transaction 11 December 2023
------------------------------------ ---------------------------------
(f) Place of the transaction Outside a trading venue
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Details of the person discharging managerial responsibilities/person
1 closely associated
(a) Name Peter Bardenfleth- Hansen
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Reason for the notification
2
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(a) Position/status Chief Executive Officer
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(b) Initial notification/Amendment Initial notification
------------------------------------ ---------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
(a) Name DG Innovate Plc
------------------------------------ ---------------------------------
(b) LEI 21380058VQBP76M7TN11
------------------------------------ ---------------------------------
Details of the transaction(s): section to be repeated
4 for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
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(a) Description of the financial Ordinary shares of 0.1 pence
instrument, type of instrument each
Identification code ISIN GB00BYQD5059
DGI
------------------------------------ ---------------------------------
(b) Nature of the transaction Grant of GBP0.0003 options
under the Executive Share
Option Scheme
------------------------------------ ---------------------------------
(c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.0003 1,500,000,000
------------------------------------ ---------------------------------
(d) Aggregated information N/A
- Aggregated volume
- Price
------------------------------------ ---------------------------------
(e) Date of the transaction 11 December 2023
------------------------------------ ---------------------------------
(f) Place of the transaction Outside a trading venue
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Details of the person discharging managerial responsibilities/person
1 closely associated
(a) Name Jochen Rudat
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Reason for the notification
2
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(a) Position/status Executive Director
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(b) Initial notification/Amendment Initial notification
------------------------------------ ---------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
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(a) Name DG Innovate Plc
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(b) LEI 21380058VQBP76M7TN11
------------------------------------ ---------------------------------
Details of the transaction(s): section to be repeated
4 for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
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(a) Description of the financial Ordinary shares of 0.1 pence
instrument, type of instrument each
Identification code ISIN GB00BYQD5059
DGI
------------------------------------ ---------------------------------
(b) Nature of the transaction Grant of GBP0.0003 options
under the Executive Share
Option Scheme
------------------------------------ ---------------------------------
(c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.0003 1,500,000,000
------------------------------------ ---------------------------------
(d) Aggregated information N/A
- Aggregated volume
- Price
------------------------------------ ---------------------------------
(e) Date of the transaction 11 December 2023
------------------------------------ ---------------------------------
(f) Place of the transaction Outside a trading venue
------------------------------------ ---------------------------------
Details of the person discharging managerial responsibilities/person
1 closely associated
(a) Name Martin Boughtwood
--------------------------------- ------------------------------------
Reason for the notification
2
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(a) Position/status Chief Technical Officer
--------------------------------- ------------------------------------
(b) Initial notification/Amendment Initial notification
--------------------------------- ------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
(a) Name DG Innovate Plc
--------------------------------- ------------------------------------
(b) LEI 21380058VQBP76M7TN11
--------------------------------- ------------------------------------
Details of the transaction(s): section to be repeated
4 for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
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(a) Description of the financial Ordinary shares of 0.1 pence
instrument, type of instrument each
Identification code ISIN GB00BYQD5059
DGI
--------------------------------- ------------------------------------
(b) Nature of the transaction Grant of GBP0.0003 and GBP0.0006
options under the Executive
Share Option Scheme
--------------------------------- ------------------------------------
(c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.0003 1,000,000,000
GBP0.0006 1,000,000,000
--------------------------------- ------------------------------------
(d) Aggregated information N/A
- Aggregated volume
- Price
--------------------------------- ------------------------------------
(e) Date of the transaction 11 December 2023
--------------------------------- ------------------------------------
(f) Place of the transaction Outside a trading venue
--------------------------------- ------------------------------------
Details of the person discharging managerial responsibilities/person
1 closely associated
(a) Name Peter Tierney
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Reason for the notification
2
-----------------------------------------------------------------------
(a) Position/status Chief Executive Officer
------------------------------------- --------------------------------
(b) Initial notification/Amendment Initial notification
------------------------------------- --------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
(a) Name DG Innovate Plc
------------------------------------- --------------------------------
(b) LEI 21380058VQBP76M7TN11
------------------------------------- --------------------------------
Details of the transaction(s): section to be repeated
4 for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
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(a) Description of the financial Ordinary shares of 0.1 pence
instrument, type of instrument each
Identification code ISIN GB00BYQD5059
DGI
------------------------------------- --------------------------------
(b) Nature of the transaction Lapse of GBP0.001 options
under the Executive Share
Option Scheme
------------------------------------- --------------------------------
(c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.001 425,987,669
------------------------------------- --------------------------------
(d) Aggregated information N/A
- Aggregated volume
- Price
------------------------------------- --------------------------------
(e) Date of the transaction 11 December 2023
------------------------------------- --------------------------------
(f) Place of the transaction Outside a trading venue
------------------------------------- --------------------------------
Details of the person discharging managerial responsibilities/person
1 closely associated
(a) Name Martin Boughtwood
------------------------------------- --------------------------------
Reason for the notification
2
-----------------------------------------------------------------------
(a) Position/status Chief Technical Officer
------------------------------------- --------------------------------
(b) Initial notification/Amendment Initial notification
------------------------------------- --------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
(a) Name DG Innovate Plc
------------------------------------- --------------------------------
(b) LEI 21380058VQBP76M7TN11
------------------------------------- --------------------------------
Details of the transaction(s): section to be repeated
4 for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-----------------------------------------------------------------------
(a) Description of the financial Ordinary shares of 0.1 pence
instrument, type of instrument each
Identification code ISIN GB00BYQD5059
DGI
------------------------------------- --------------------------------
(b) Nature of the transaction Lapse of GBP0.001 options
under the Executive Share
Option Scheme
------------------------------------- --------------------------------
(c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.001 156,105,002
------------------------------------- --------------------------------
(d) Aggregated information N/A
- Aggregated volume
- Price
------------------------------------- --------------------------------
(e) Date of the transaction 11 December 2023
------------------------------------- --------------------------------
(f) Place of the transaction Outside a trading venue
------------------------------------- --------------------------------
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